Informatie van de VP Investor Relations van Eclipse, voor wie er zijn voordeel mee wil doen.
Antwoorden op door mij gestelde vragen.
I am an investor in Eclipse Gold and I have some questions about the news that was released yesterday. The stock price fell 16%.
"I think what we saw was an initial over-reaction and it has since bounced back to a level in line with the current financing."
In the news it states : the Exchange ratio for existing common shares of Eclipse of 1.09 shares of Northern Vertex for every one share of Eclipse, determined based on the 20-day VWAP of each company on December 4th, 2020. Can you explain to me what will happen with my current position? I understand it will be replaced by Northern Vertex shares in February after the deal is finalized. Can you please explain in more detail?
"You will receive 1.09 Northern Vertex shares for every Eclipse share that you own."
However, trading in the Eclipse stock is still possible? What if I add to my position today?
"Eclipse will continue to trade until the deal closes. You are free to trade Eclipse or Northern Vertex."
I hope there is more information available about this transaction for current Eclipse share holders, since the stock price is falling down.
"I’ve attached a presentation that we are marketing the current financing with that should provide additional colour on the rationale behind the deal and why it’s good for shareholders. Remember Eclipse management owns 40% of the stock and is locked up (can’t trade the stock) for up to three years, so we are incentivized for long term value creation.
As a shareholder of Eclipse, you are gaining:
Exposure to operating cash flow to protect your investment from downside risk (ie. If Hercules doesn’t work out for some reason, the stock would not take a drastic decline) – The Moss Mine did $10.7M in operating cash flow last quarter
Exploration potential at an increased scale
All of Phase II drilling from Hercules is in the lab – we expect to start receiving assays on those 28 holes in January
Near mine resource drilling with 3 rigs at the Moss Mine is underway – we expect to release an updated mine resource and plan in the first half of next year
Moss property exploration drilling – We are very excited about the regional upside potential at the Moss property and will allocate a good portion of the cash position to fund exploration here, as well as Phase III at Hercules
A larger platform with $25-30M in the bank and a strong balance sheet – better liquidity with an eye to upgrade CAN and US listings
Combined team that is deal oriented and will leverage this new platform to grow the production profile/pipeline with M&A
I hope this helps. I’m up pretty early most days, so if you’d like to have a call tomorrow mid-afternoon your time, just let me know."